The IBEX 35 opens June in negative dragged by the falls of Merlin Properties and Arceormittal

  • The IBEX 35 opens the week in negative, with losses close to 0.30% before closing.
  • Arceormittal’s actions yield after the announcement of tariffs to steel and Trump’s student.
  • Merlin Properties and Corporation Acciona accompany Arceormittal with the greatest declines of the day.
  • The Spanish manufacturing PMI rises to 50.5 points in May, registering its first growth in four months.

The IBEX 35 is ranging today between a minimum of two days around 14,100 points and a maximum of three days in 14,222 points. At the time of writing, the Spanish index falls 0.30% in 14,110 points.

Arceormittal, Actua and Merlin Properties suffer the greatest falls in Ibex 35

The actions of the Arceormittal steel are falling 1.12% at this time, affected by the announcement of the increase in steel and aluminum tariffs that the United States announced on Friday. Donald Trump said that starting next Wednesday, rates in steel and aluminum will rise from 25% to 50%, which affects European companies in the sector. Brussels has responded today to the threat, ensuring that he will respond with reciprocal tariffs.

It should be noted that Spanish Acerinox action has been the great beneficiary of these ads, rising in these moments almost 4%. According to Bankinter analysts, this happens because the company produces in the US

On the other hand, the real estate investment company Merlin Properties leads the falls of the index, descending 1.83%, while Corporation Acciona, dedicated to renewable energy, loses 0.83%.

The manufacturing PMI of Spain improves in May

He Spanish manufacturing pmi published by S&P Global has risen 2.4 points in May, rising to 50.5 points compared to April 48.1. The indicator reaches its highest level in four months, also returning to expansion territory since January.

On the other hand, the Manufacturing sector of the Eurozone has improved at 49.4 points in May From the previous 49.0, as expected, reaching its highest level in 33 months.

Waiting for possible headlines about tariffs in the next few hours, the focus of the economic calendar will be tomorrow in the data of Spanish unemployment variation for May, and in the preliminary inflation of the same month of the Eurozone. Later this week, the focus will move to the decision of interest rates of the European Central Bank that will be announced next Thursday.

Technical levels at IBEX 35

The IBEX 35 establishes its first resistance in the maximum of the last three days established today in 14,222. Above the May roof waits at 14,368 points, which is also the highest level in the last 18 years.

Downward, a break of 14,100 will sign up to a minimum of last week around 14,090. Below 14,000 there is room to fall around 13,858, land of the last two and a half weeks tested on May 23.

Source: Fx Street

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